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The GCC Statistical Center revealed in a report on Monday that the total assets of commercial banks in the Gulf Cooperation Council (GCC) countries increased by 10 percent in 2024, reaching approximately USD 3.5 trillion, compared to 2023.The report mentioned that the total deposits in these banks amounted to about USD 2.1 trillion in 2024, showing a 9.6 percent increase compared to 2023.The report also highlighted the rise in total loans provided by the banks, reaching nearly USD 2.1 trillion in 2024, an increase of 9.9 percent over 2023, with the private sector accounting for about 80.7 percent of the total loans.The statistics from the GCC Statistical Center showed a decline in the non-performing loan ratios across the GCC countries during the period from 2020 to 2024, with a noticeable variation in the loan-to-deposit ratios, ranging between 66 percent and 125 percent.Regarding capital adequacy, the GCC countries maintained high levels, surpassing the minimum threshold set by the Basel III Committee of 8 percent, with ratios ranging between 17.8 percent and 32 percent in 2024.On the financial performance front, commercial banks in the GCC countries witnessed significant growth in their net profits over the past four years, surpassing pre-COVID-19 levels.

The total assets of commercial banks in Qatar scaled up 6.5% to QR2.12tn in July this year compared to the same period in 2024, according to latest data issued by the Qatar Central Bank (QCB).Total domestic deposits with local banks rose 2.3% to QR852.3bn in July compared to the same period last year. Total credit disbursed by the local banks totalled QR1.34tn in July, up 5.5% on the same period in 2024. Broad money supply (M2) increased by 1.7% to QR739.5bn in July, compared to the same period in 2024, the QCB noted. M2 is an estimate of liquid assets, including cash on hand, money deposited in checking accounts, savings accounts, and other short-term saving vehicles such as money market funds and certificates of deposit.An increase in the country's bank assets, deposits, and credit indicates a growing banking sector, which clearly suggests an expansion of the money supply and increased economic activity. A healthy banking sector with growing assets and credit improve access to capital for businesses and households, facilitating their growth and development.